Dogecoin And Shiba Inu Drop 9% As Bitcoin Nears $60,000

Dogecoin and Shiba Inu fell roughly 9% as bitcoin drifted toward the $60,000 level, with CoinDesk saying the sharpest selling was concentrated in the most speculative corners of the market.

“Memecoins dogecoin, shiba inu dive 9% as bitcoin nears $60,000 Dogecoin and Shiba Inu led losses among major tokens as heavy volume and liquidations overwhelmed support levels, extending a broader risk-off move across crypto markets”

@coindesk

CoinDesk reported that broader crypto sentiment deteriorated as bitcoin slipped toward the psychologically important $60,000 level, triggering liquidations across altcoins and memecoins.

@coindesk

CoinDesk also said derivatives traders moved into defensive positioning, with DOGE futures open interest falling and SHIB open interest hovering near cycle lows.

CoinDesk added that Dogecoin fell from $0.0891 to $0.0830, breaking the ascending channel that had guided price action since February, while Shiba Inu dropped from $0.000004997 to $0.000004630, slicing through support near $0.000004780 on heavy selling pressure.

Benzinga said both tokens broke key support on heavy volume with sellers in control, noting that Dogecoin fell from $0.0891 to $0.0830 and Shiba Inu dropped from $0.000004997 to $0.000004630.

Benzinga reported that both tokens saw their biggest volume spikes during the breakdown rather than on any recovery attempt, confirming sellers remained in control throughout the session.

Benzinga

Benzinga also stated that Dogecoin’s RSI sits at 20.34, the most oversold reading since the September 2025 bottom and matching every prior bull divergence signal that preceded sharp recoveries on this chart.

On Shiba Inu, Benzinga said it confirmed a descending triangle breakdown and that no visible structural support exists below current price, leaving the token in complete price discovery to the downside until it reclaims back inside the triangle above the 20 EMA at $0.00000544 with volume.

DL News linked the bitcoin selloff to macro and policy concerns, saying Bloomberg Intelligence strategist Mike McGlone argued “Cryptos got Trumped” on Bloomberg Television as bitcoin tumbled to nearly $60,000 on Friday.

“Memecoins are usually where traders go looking for risk”

CoinDesk

DL News also said the selloff came after fresh data on Thursday revealed that the US job market last month was the worst of any January since 2009, when the economy was at the end of the worst crash since the Great Depression, and that over 100,000 people were fired.

DL News added that Fabian Dori, chief investment officer at Sygnum Bank, said the four-year cycle is in effect and that the reward for confirming blocks of transactions is 3.125 Bitcoin, with those rewards dropping to approximately 1.56 Bitcoin by the middle of 2028.

In a separate technical framing, CoinDesk said that despite the selloff, DOGE and SHIB continued to show conflicting signals underneath the surface, with DOGE and SHIB seeing sizeable exchange outflows that would normally be associated with accumulation, while also saying neither DOGE nor SHIB has shown convincing evidence of a durable reversal.